SoftBank Group booked a 1.9 billion yen investment gain on its Vision Fund tech investment arm in the company's fiscal first quarter ended June, swinging back into the black.
The Japanese giant also announced it would buy back up to 6.8% of shares available amounting to up to 500 billion yen .booked a 1.9 billion yen investment gain on its Vision Fund tech investment arm in the company's fiscal first quarter ended in June, swinging back into the black.The Japanese giant also announced it would buy back up to 6.8% of shares available in the company amounting to up to 500 billion yen .
In the year ago quarter, SoftBank posted 159.77 billion yen gain in its Vision Fund. In the March quarter, SoftBank posted a loss of 57.53 billion yen in its flagship tech investment arm.success of the initial public offering of chip designer Arm last yearas investors remain concerned about the state of the world economy and high valuations in part driven by technology stocks.
SoftBank, which itself has been marred by bad bets over the past few years, is trying to position itself to investors as a key player in the artificial intelligence boom. The company's management have highlighted its investments in companies like Arm and self-driving startup Wayve as indiciations that the Japanese giant is poised to capitalize on the growth of AI.
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